Environmental, social, and governance (ESG) is an important concept that has become increasingly popular in the business world. #ESG refers to the three core factors that businesses should consider when making decisions: #environmentalsustainability, #socialresponsibility, and #corporategovernance. By incorporating these elements into their operations, businesses can ensure they are acting responsibly and are doing their part to create a better society. ESG is also important for investors as it helps them assess the long-term performance of companies and make more informed decisions about where to invest their money.
Importantly, ESG is standing out as an important force for businesses that wish to remain at the forefront of competition. For example, a 2023 study by McKinsey showed that products backed by ESG policies grew 28% versus the 20% growth exhibited by products with no such backing. With consumers moving their increasingly smaller purchasing power toward products and services backed by ESG-related claims, it is no wonder that more businesses are turning to ESG to help revive lagging revenues to combat an increasingly volatile economy. As such, ESG is becoming increasingly important for businesses and investors alike as they strive to create a more #sustainablefuture, for their companies and the planet alike.
scope 1 emissions
Reducing the carbon footprint of your business helps reduce our overall environmental impact — and helps show your clients and business partners that you’re serious about sustainability. According to the #GreenhouseGasProtocol, greenhouse gas emissions (GHG) are divided into three categories, called Scope 1, Scope 2, and Scope 3. If you want to focus your #ESGinitiatives on reducing emissions, here’s what you need to know about each of these scopes:
#Scope1emissions are those emissions that are directly released into the atmosphere by an organization. These include all the direct GHG emissions from sources owned or controlled by the organization, such as fuel combustion in vehicles, boilers, and other equipment. There are four categories within this scope:
stationary combustion sources — These include sources of combustion generated from things such as fuels and other heating sources.
mobile combustion sources — Company-owned vehicles including trucks, cars, and vans are considered mobile combustion sources. However, if your business uses electric vehicles (EVs), some of your fleet can be categorized as Scope 2 emissions.
fugitive emissions — These emissions comprise leaks from refrigeration and air conditioning units among others and are much more dangerous to people and the environment than CO2 emissions.
process emissions — Process emissions are gasses that are released through on-site manufacturing and other industrial processes.
Organizations should strive to reduce their Scope 1 emissions in order to become more sustainable and responsible to their stakeholders.
scope 2 emissions
#Scope2emissions refer to #indirectemissions from the consumption of purchased electricity, heat, cooling, or steam. They are a key metric for evaluating a company’s #environmentalperformance in the context of ESG. For most companies, #electricityusage will represent the lion’s share of Scope 2 emissions.
By measuring and reporting on Scope 2 emissions, companies can demonstrate their commitment to sustainability and provide investors with valuable insight into the company’s ESG performance.
scope 3 emissions
#Scope3emissions are considered “indirect emissions” that are not covered by Scope 2. These can occur in any part of the value chain of your business, both up- and downstream. There are three broad areas: indirect energy use, purchased goods and services, waste generated in operations in which fifteen categories of #Scope3Emissions can be found:
- Upstream transportation and distribution
- Waste generated during operations
- Business travel
- Employee commutes
- Upstream leased assets
- Downstream transportation and distribution
- Processing of sold products
- Use of sold products
- End-of-life treatment of sold products
- Downstream leased assets
Scope 3 emissions are an important metric for assessing a company's #EnvironmentalSocialGovernance (ESG) performance. Companies can use this information to identify opportunities to #reduce their overall #carbonfootprint by reducing Scope 3 emissions throughout their value chain. By understanding their Scope 3 emission sources and implementing strategies to reduce them, companies can improve their ESG performance and become more #sustainable in the long run.
Importantly, emissions that occur through the value chain in this scope can often represent the largest positive impact for your ESG initiatives.
QIS — Helping You Become More Sustainable
At Quality Imaging Solutions LLC (QIS), we understand the importance of #sustainability and controlling #greenhousegas emissions and waste — not just for your bottom line and your company’s reputation, but also for the health of our planet.
Knowing that change begins at home, we looked to our own organization first, adopting #sustainablebusinesspractices to add value to our partnerships. Then, we curated a variety of tools and techniques that help our clients become — and remain — more sustainable. For example, our managed print services that control paper and product waste and help you reduce your printer fleet without compromising productivity to save energy and minimize the production of e-waste.
We also offer products that directly — and positively — impact your ESG goals, such as high-quality #remanufacturedprintercartridges and factory-certified refurbished #printerhardware that can reduce the #environmentalimpact of these supplies and equipment over traditional new OEM products, in addition to saving you money.
To find out more about how we can help you achieve your sustainability goals, contact us today.